EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,427 shares of the information technology services provider’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in EPAM Systems were worth $3,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in EPAM Systems during the fourth quarter worth about $35,000. Manchester Capital Management LLC increased its position in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 177 shares in the last quarter. Farther Finance Advisors LLC increased its position in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of EPAM Systems in the third quarter worth $44,000. Finally, Continuum Advisory LLC increased its position in shares of EPAM Systems by 5,240.0% in the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 262 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Price Performance

Shares of EPAM stock opened at $199.15 on Friday. The firm has a market cap of $11.30 billion, a P/E ratio of 25.40, a P/E/G ratio of 3.38 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The firm has a fifty day moving average of $236.45 and a two-hundred day moving average of $222.60.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EPAM. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Scotiabank lowered their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays raised shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $250.00 to $290.00 in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $268.44.

EPAM Systems Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.